A report published on Monday by UK Finance, which represents British banks, argues for a strategy of “regulatory diplomacy” in which UK financial regulators such as the Bank of England and Financial Conduct Authority work with counterparts in other countries to improve market access. 

Almost two months after the UK left the EU’s financial regulatory regime, it is also pushing for a more global convergence in financial standards rather than a regional approach, making it easier for firms to operate across different jurisdictions.

Daniel Thomas FT 22nd Feb 2021 

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